Exclusive Beats for auction: Good or Bad idea?

N

NewFoundation

Guest
Hey guys, I have a question for you.

Say there was a moderately popular producer, perhaps with at least 300-500 visitors on their beat-selling website on a daily basis. Say they decided to take a non traditional route to selling excusive beats and instead of selling one for roughly $500-1000, they started the price at $20 (the same price as a typical lease) and waited a few weeks for people to make bids, say using at least $1 increments.

Would that be beneficial for the producer, especailly considering they are reputable on the internet and get enough traffic to their website to encourage bidding? Instead of selling a $500 exclusive, it's possible they could make much more... But the catch is that it all depends on their popularity.

What do yall think? Good business idea or dissapointment waiting to happen?
 
It's a unique idea, a feature that I've been considering adding to our Beats Store.

It could certainly work with the right amount and type of traffic, just like anything online lol. The only way to tell is to test it for yourself and let everyone know how it worked out for you!
 
I think it's a good idea. However, I don't think it will produce much revenue. In order for a bidding war to happen, you need at least two people (with money), that just "have to have" the product.

High priced exclusives do sell on music, but it takes the right buyer with the right set of circumstances. They "have to have" that music. It is unlikely, that two of those types of people will happen across the same auction at the same time. Especially on a regular basis. And then again, if they can't just get what they want outright, meaning they have to "bid" on it, it just sounds like work that people with big budgets just don't have time for.

And what if somebody wanted to purchase an exclusive on a composition that wasn't currently up for auction?

What if you walked into a sandwich shop and instead of ordering what you want and just paying the price, they decided they were going to just start making one sandwich at a time and then auctioning it off to whoever was in the store. What are the chances that the sandwich they make will be the one you wanted? Would you wait around to bid on a sandwich you wanted?
 
If there were a higher demand, I could imagine a website where serious artists could go to bid on the exclusive rights for beats. Much like flippa.com how you can purchase websites, but with exclusive beats.
 
thanks for the input guys. And Kevin, good point with those sandwhiches.
 
I thought of the idea but couldn't find the logic in it for an artist to through so much to purchase a beat. Many producers complain its too hard for them to sale a $10 lease let alone create bidding wars.
 
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